What authority and responsibilities, does the Pilot In command have PIC, if an in-flight emergency requires immediare action.
The pilot in command is directly responsible for and is the final authority as to the operation of an aircraft.
The pilot in command may deviate from any regulation to the extent necessary in dealing with the emergency.
A Pilot in command PIC who deviates from a regulation to meet an emergency must send a written report to the FAA if so requested.